Eurex Clearing will introduce a completely new clearing system, the new clearing architecture, for derivatives clearing in 2013.
Eurex said the new architecture, which is a key feature in Eurex Groups Technology Roadmap, combines hardware and software and ensures future flexibility for the introduction of new product types, asset classes and services by providing a low-footprint solution to the market.
In 2011, via Eurex Release 14.0, Eurex Clearing provided member firms with a new interface, Eurex Clearing FIXML Interface, which conforms to the FIXML industry standard. Due to the introduction of Eurex Clearing FIXML Interface, stepwise decommissioning of the MISS infrastructure and the corresponding VALUES API was initiated.
The launch of the new architecture is planned for the fourth quarter of 2013 and will be supported by a simulation phase lasting several months to provide member firms with sufficient testing opportunities.
Member firms will be able to use the existing Eurex Clearing FIXML Interface, which will be enhanced to support improvements to be introduced with the new clearing architecture, for accessing the clearing environment. Due to the introduction of the new clearing architecture, decommissioning of the existing MISS/VALUES API infrastructure for Eurex Clearing for derivatives clearing will also take place at the same time.
The existing Eurex Clearing FIXML Interface will be extended to improve the existing functionality. Detailed information about the changes will be communicated to the members in November 2012.
Introduction of the new clearing architecture requires some changes to existing clearing reports provided by Eurex Clearing. A detailed description of the changes will be provided to the members in the Eurex XML Report Reference Manual in the second quarter of 2013.
Prior to the introduction of the new clearing architecture, members will be able to test the new infrastructure. The regular simulation period is scheduled to start in the third quarter of 2013 and will last until production start in the fourth quarter of 2013. During that timeframe, members will be able to test the enhanced Eurex Clearing FIXML Interface as well as the new Derivatives Clearing GUI.
(JDC)